Chocolate Confectionery Market to Hit USD 136.42 Billion by 2027 | Exhibiting a CAGR of 2.3%
Companies covered in chocolate confectionery market are Barry Callebaut (Zürich, Switzerland), Nestle S.A. (Vevey, Switzerland), Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland), Ferrero SpA (Alba, Italy), HARIBO GmbH & Co. KG (Bonn, Germany), Mondelez International (Illinois, U.S.), Meiji Holdings Co., Ltd. (Tokyo, Japan), The Hershey Company (Pennsylvania, U.S.), Ezaki Glico Co., Ltd. (Osaka, Japan), Mars Inc. (Virginia, U.S.)
Pune, India, April 05, 2023 (GLOBE NEWSWIRE) — The global chocolate confectionery market size is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market, states Fortune Business Insights™ in its report, titled “Chocolate Confectionery Market Size, Share & COVID-19 Impact Analysis, By Type (Dark, Milk, and White), Category (Premium, Seasonal, and Everyday), and Regional Forecast, 2020-2027”. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth.
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List of Key Players Covered in the Chocolate Confectionery Market Report are:
- Mars Inc. (Virginia, U.S.)
- The Hershey Company (Pennsylvania, U.S.)
- Mondelez International (Illinois, U.S.)
- Ferrero SpA (Alba, Italy)
- Nestle S.A. (Vevey, Switzerland)
- Ezaki Glico Co., Ltd. (Osaka, Japan)
- Meiji Holdings Co., Ltd. (Tokyo, Japan)
- HARIBO GmbH & Co. KG (Bonn, Germany)
- Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland)
- Barry Callebaut (Zürich, Switzerland)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 2.3% |
| 2027 Value Projection | USD 136.42 Billion |
| Base Year | 2019 |
| Chocolate Confectionery Market Size in 2019 | USD 114.33 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 160 |
| Segments Covered | By Type, By Category, By Region |
| Chocolate Confectionery Market Growth Drivers | Demand for Specialty Chocolate Products Supports Market Growth |
The report states that the global market value stood at USD 114.33 billion in 2019 and shares the following:
- Thorough analysis of the short-term and long-term impact of the COVID-19 pandemic on the market;
- Actionable insights into the upcoming opportunities in the market;
- Tangible research into the market, drivers, restraints, and segments; and
- In-depth examination of the regional developments, competitive landscape, and upcoming investment pockets for the market.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/industry-reports/chocolate-confectionery-market-100539
Market Restraints
Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth
The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19.
Regional Insights
North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates
With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items.
In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region.
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Competitive Landscape
Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere
The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain Analysis
- Recent Industry Developments – Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Analysis (In Relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Chocolate Confectionery Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Dark
- Milk
- White
- By Category
- Premium
- Seasonal
- Everyday
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
Too Continued…!
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